Jonah Goodhart

So we didn't announce the valuation, but it was $50 million.

In a couple hundred million dollar plus or minus range, it was healthy.

It was an interesting spot for the company because we didn't have to raise.

And so we were profitable, which very few SaaS companies turned out to be profitable.

Yeah, so let's talk about this because I'm passionate about it.

So first of all, when I talk to companies and they say that they're SaaS, I say, okay, do you have 70, 80% gross margins?

Can you predict what your revenue is going to be for the next year or two?

Do you think of things in terms of churn and MRR

And you'd talk to me about cogs and talk to me about how you think through what goes into that number.

And that's how you figure out oftentimes whether people are real SaaS or not.

We certainly were a real SaaS company.

We were actually one of the only companies in sort of focused on the world of advertising that actually priced in that way.

So we priced based on an annual contract commitment.

We had recurring revenue deals.

So we looked at it.

We didn't play the churn games that people play in terms of the net revenue attention.

So I got very into SaaS and SaaS metrics over the last five or so years prior to being acquired.

And one of the things that people do is they come up with this sort of funny thing where they say, well, we'll look at churn, but then we'll look at how much money was added on top of it.

And the total will somehow be more than 100%.

I never liked that way of looking at a business.